California is too 'overregulated, expensive, and risky' for Bed Bath & Beyond, chairman says

As Bed Bath & Beyond emerges from a bankruptcy that forced the closure of all its stores, the company’s executive chairman took aim at California, saying he refuses to reopen locations in the state.

“California has created one of the most overregulated, expensive, and risky environments for businesses,” Beyond, Inc. executive chairman Marcus Lemonis said in a statement posted on X . “It’s a system that makes it harder to employ people, harder to keep doors open, and harder to deliver value to customers.”

The home goods retailer, once common in strip malls and shopping centers, joins a handful of companies that have denounced California’s business environment . Some executives say California’s high taxes, high cost of living and stringent environmental regulations hinder businesses tr